MUMBAI: The Enforcement Directorate (ED) has attached properties of Mohan India under the Prevention of Money Laundering Act (PMLA). Mohan India and its group companies, Tavishi Enterprises and Brinda Commodity, are one of the biggest defaulters in the NSEL Scam and owe investors about Rs 922 crore. The PMLA has stringent provisions of attachment of properties, arrest and prosecution.

ED had conducted searches on the premises of Mohan India group and identified properties which were laundered into real estate, commercial and residential properties and expensive cars. These proceeds of crime are located across the country in cities of Delhi, Lucknow, Gurgaon, Mumbai, Chandigarh, Karnal. The properties include land, luxurious villas, flats and high end cars like Range Rovers. Funds have also been laundered for purchase properties in the name of a director of Mohan India and for purchase of a hotel in Goa. The promoters have admitted to have acquired funds from NSEL without any stock of sugar and laundering of these funds.

ED investigation into trail of funds include payoffs by Mohan India to Amit Mukherjee, an employee of NSEL, for the purchase of a flat valued at Rs 4.5 crore in Mumbai and a Range Rover. These properties have also been attached. Attached properties are valued at Rs 75 crore and ED is likely to attach remaining properties shortly.

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